Long Term Care
“My family will never make me go to a Nursing Home – they’ll take care of me.”
I hear that all the time. I hope you never do have to go to a nursing home. But what if you do? What if you don’t have the option? How would it affect your family?
Check out the statistics
- 10 million people of all ages are estimated to need long-term care, 40% of which are under the age of 65.
- 60% of people who reach age 65 will require long-term care at some time in their lives.
- A couple turning 65 [has] a 75 percent chance that one of them will need long-term care.
The National Academy of Elder Law Attorneys compared the risk of needing long-term care with the risk of other financially injurious occurrences, such as an auto accident or a fire in one’s home. Using some basic insurance actuarial numbers comparing various risk, those relative risks look like this: The chances of being in
An Automobile Accident
1 in 240 or 0.4%
A Home Damaged by Fire
1 in 1,200 or 0.08%
A Long Term Care Facility
1 in 2 or 50%